Section 1. State may Incur Indebtedness for Rural Credits

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Summary: Repeals authority of state to issue bonds to fund the Rural Credits Loan Fund, to be loaned on farm mortgages

Election Date: November 3, 1942

Votes For Ratification: 101425

Votes Against Ratification: 88857

Percent for Ratification: 53%

Percent Against Ratification: 47%

Notes:

Amendment Source: 1941 SJR 1

Effective Date Source:

State may Incur Indebtedness for Rural Credits

Notwithstanding the limitations contained in section 7 of article XI of this constitution, the credit of the state may be loaned and indebtedness incurred to an amount not exceeding two per cent of the assessed valuation of all the property in the state for the purpose of providing funds to be loaned upon the security of farm lands within the state, subject to the limitations herein contained.

Summary: Adding new article on rural credits

Election Date: November 7, 1916

Votes For Ratification: 107488

Votes Against Ratification: 83887

Percent for Ratification: 56%

Percent Against Ratification: 44%

Notes: One ballot measure added the new article XIa

Amendment Source: OR 1916 VIP A11a S1 11

Effective Date Source: